Non-Payment Penalty Sample Clauses

Non-Payment Penalty. On any portion of a civil penalty more than ninety (90) calendar days past due, Respondent must pay a non-payment penalty of not more than six percent (6%) per annum, which will accrue from the date the penalty payment became due and is not paid, as provided in 31 U.S.C. § 3717(e)(2) and 31 C.F.R. § 901.9(d). This non- payment penalty is in addition to charges which accrue or may accrue under subparagraphs (a) and (c) and will be assessed monthly. 40 C.F.R. § 13.11(c).
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Non-Payment Penalty. A 10 percent quarterly non-payment penalty pursuant to 42 U.S.C. § 7413(d)(5); and
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Non-Payment Penalty. 12.1. In those cases where Borrowers fail to pay the amount of any of the instalments on the deadlines stipulated, the debt will be passed to the Lender’s Collections Department for handling. The Lender will notify the Borrower of this circumstance through an email, text message and/or postal correspondence, as well as by making telephone calls to the numbers the Borrower provided to the Lender when contracting the Loan or subsequently, provided that the Borrower has demonstrated the ownership of the new telephone number or, in those cases where it is owned by a third party, that the Borrower has the express consent of the said third party.
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Non-Payment Penalty. Following the occurrence of any Payment Event of Default and in addition to all other rights and remedies provided by this Agreement or applicable law, Lender may increase the applicable Minimum Interest by 0.015 times the Outstanding Advance Balance for each payment not timely made under this Agreement; provided that for the first two (2) Payment Events of Default and for purposes of this Section 8.2 only, the Company shall have thirty (30) days to cure such instances of a Payment Event of Default without a corresponding increase to the Minimum Interest; provided, further that the applicable Minimum Interest will be increased regardless of whether Lender notifies the Company of any Payment Event of Default. If the Company has not fully cured such Payment Event of Default at the end of such thirty (30) day period, the applicable Minimum Interest shall increase as described above. Beginning with the third Payment Event of Default and continuing with each Payment Event of Default thereafter, the applicable Minimum Interest shall increase by 0.015 times the Outstanding Advance Balance upon the occurrence of each such Payment Event of Default regardless of whether or not such Payment Event of Default is subsequently cured. By way of example only, if the applicable Minimum Interest is 0.50 times the Outstanding Advance Balance at the time of a Payment Event of Default causing an increase in the applicable Minimum Interest, the applicable Minimum Interest would increase to 0.515 times the Outstanding Advance Balance. For the avoidance of doubt, if the Minimum Interest is increased pursuant to this Section 8.2 during any measurement period set forth on Schedule 11.2, such increase shall apply to each subsequent measurement period set forth on Schedule 11.2.
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Non-Payment Penalty. Unless other arrangements are made in writing and signed by the parties, non-payment of Eligible Costs and other costs owed by the Eligible Student or his/her parents or guardians will result in the Eligible Student being prohibited from enrolling in any Eligible Courses until the first available registration period following the time at which the sums owed are paid.
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Related to Non-Payment Penalty

  • Late Payment Penalty If any portion of the principal of or interest on this Debenture shall not be paid within ten (10) days of when it is due, the Discount Multiplier under this Debenture shall decrease by one percentage point (1%) for all conversions of this Debenture thereafter.

  • Prepayment Penalty Each Mortgage Loan that is subject to a Prepayment Penalty as provided in the related Mortgage Note is identified on the related Mortgage Loan Schedule. With respect to each Mortgage Loan that has a Prepayment Penalty feature, each such Prepayment Penalty is enforceable and will be enforced by the Seller during the period the Seller is acting as Interim Servicer for the benefit of the Purchaser, and each Prepayment Penalty is permitted pursuant to federal, state and local law. Each such Prepayment Penalty is in an amount not more than the maximum amount permitted under applicable law and no such Prepayment Penalty may be imposed for a term in excess of five (5) years with respect to Mortgage Loans originated prior to October, 1, 2002. With respect to Mortgage Loans originated on or after October 1, 2002, the duration of the Prepayment Penalty period shall not exceed three (3) years from the date of the Mortgage Note unless the Mortgage Loan was modified to reduce the Prepayment Penalty period to no more than three (3) years from the date of the related Mortgage Note and the Mortgagor was notified in writing of such reduction in Prepayment Penalty period. With respect to any Mortgage Loan that contains a provision permitting imposition of a premium upon a prepayment prior to maturity: (i) prior to the Mortgage Loan's origination, the Mortgagor agreed to such premium in exchange for a monetary benefit, including but not limited to a rate or fee reduction, (ii) prior to the Mortgage Loan's origination, the Mortgagor was offered the option of obtaining a mortgage loan that did not require payment of such a premium, and (iii) the Prepayment Penalty is disclosed to the Mortgagor in the mortgage loan documents pursuant to applicable state, local and federal law. This representation and warranty is a Deemed Material and Adverse Representation;

  • Non-Payment The Borrower or any other Loan Party fails to pay (i) when and as required to be paid herein, any amount of principal of any Loan or any L/C Obligation, or (ii) within three days after the same becomes due, any interest on any Loan or on any L/C Obligation, or any fee due hereunder, or (iii) within five days after the same becomes due, any other amount payable hereunder or under any other Loan Document; or

  • Late Payment Charges If any undisputed amount due on a billing statement is not received by the billing Party by the Bill Due Date, the billing Party shall calculate and assess, and the billed Party agrees to pay, a late payment charge on the past due balance equal to one and one-half (1 ½%) percent per month or the highest rate of interest that may be charged under Applicable Law, compounded daily, for the number of days from the Bill Date until the date on which such payment is made. Such late payment charges shall be included on the billing Party’s next statement to the billed Party.

  • Late Payment Charge If any principal, interest or any other sums due under the Loan Documents (including the amounts due on the Maturity Date) are not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable law.

  • Termination Payment The final payment delivered to the Certificateholders on the Termination Date pursuant to the procedures set forth in Section 9.01(b).

  • Termination Payments In the event of termination of the Executive’s employment during the Employment Period, all compensation and benefits set forth in this Agreement shall terminate except as specifically provided in this Section 8.

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